Question: Refer to Home Depot s income statement contained in Appendix C

Refer to Home Depot's income statement contained in Appendix C of the textbook.
Required
a. Identify the line item just above Net Earnings. Explain in your own words what you think this line item represents.
b. Look at the fourth note to the financial statements. What was the item that gave rise to the line on the income statement?
c. Do you think that this item should be reported separately on the income statement? Why or why not?

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  • CreatedJuly 16, 2015
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